.jpg) 12 April, 2005 - CMR Fuel Cells Ltd, today announced that it has been selected as one of Red Herring’s Top 100 private companies to watch in 2005. The Cambridge based company is developing pioneering fuel cell technology, set to deliver the low-cost, long run-time power solutions that today’s portable electronic products demand.
Through its unique, patented fuel cell technology CMR will make mass-market fuel cells commercially viable for the first time, reducing the cost of a fuel cell stack by up to 80% and the size by up to 90%. CMR’s products can be built using printing or roll-to-roll techniques – improving reliability and further reducing costs.
Every year, Red Herring's Top 100 sets the standard as the technology industry’s definitive list of private companies impacting the market place. The editorial team at Red Herring, the leading magazine of business technology and innovation, has selected companies that have demonstrated outstanding achievements since their inception, representing the most instrumental players in leading the technology
industry.
Red Herring’s editorial staff rigorously evaluated more than 600 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development.
“We are delighted that Red Herring has recognised the validity of our vision of CMR delivering the promise of instant re-charge, long run-time and low cost to the portable electronics industry,” said John Halfpenny, CEO of CMR Fuel Cells Ltd. “We are poised to enable a new generation of products, for the first time exploiting the massive increases in power available from fuel cells when compared with traditional battery power.”
“Our list shows that despite obstacles posed by regulations, bureaucracy and tradition, innovation and entrepreneurship continues to thrive in Europe,” said Red Herring editor-in-chief Joel Dreyfuss.
Red Herring’s lists of top private companies are an important part of the
magazine’s tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google and eBay were spotted in their early days by Red Herring editors as those that would change the way we live and work. This is the first time that Red Herring magazine has compiled a list focused exclusively on the most promising start-ups in Europe.
About CMR Fuel Cells
CMR Fuel Cells Limited is a UK developer of fuel cell stacks for portable and small stationary power generation applications. The company plans to become a leading supplier of fuel cell technology and products, based on its simple but revolutionary stack architecture and through its relationships with other key organisations.
CMR Fuel Cells Limited was incorporated in October 2003, based on technology developed over the preceding four years at the Generics Group in Cambridge, UK. The company is owned by the management team, Conduit Ventures Limited, Carbon Trust Investments,
and the Generics Group. Conduit Ventures is a specialist venture capital fund focusing on fuel cells backed by Johnson Matthey, Shell Hydrogen, Mitsubishi, Danfoss, and Solvay.
Carbon Trust Investments is a leader in clean energy investing and is funded by the UK government. Generics is a leading European technology and management consultancy located in Cambridge, UK.
For more details, please visit www.cmrfuelcells.com
About Red Herring
Red Herring, Inc., founded in 1993, is a media company whose mission is to cover innovation, technology, financing and entrepreneurial activity. Its staff of award-winning journalists tell readers what's first, what matters and most importantly, why.
Red Herring is dedicated to thorough research, relevant metrics deep financial analysis, indepth reporting, crisp writing and thoughtful debate. We are a skeptical, intelligent and trustworthy source of information in technology business. Our primary obligation is to
provide the most relevant, honest and independent information and analysis to our audience, with the conviction that an exceptional editorial product is the best catalyst for success and the best way to serve our advertisers and investors. Our content is original,
compelling and actionable for industry executives and entrepreneurs.
A privately held company, Red Herring, Inc. is headquartered in Belmont, California. For more information visit www.redherring.com
For press enquiries contact:
Ainslie MacLeod / Sally Welsh at Nelson Bostock Communications
PH: + 44 (0) 20 7229 4400
EMAIL: ainslie.macleod@nelsonbostock.com
CMR Fuel Cells Ltd.
EMAIL: enquiries@cmrfuelcells.com |
